why not send me a PM if you dont EVERYONE knowing? Im a shareholder and it is an important piece of information. For all i know you are over spending buying rigs that cost 2Grand each that only output 1.2Ghash/sec. Maybe you are buying good rigs but I could or another investor could help reduce the cost saving $100-200 a rig. Also why does it matter if others have the same build? Maybe Id like to build the same rig for myself i wouldnt consider that competition.
Since it appears you are going to refuse to give such information away id like to propose a motion asking the shareholders if you should tell us what the equipment you purchase for the rigs.
Topic: SkepsiDyne Integrated Node - The Bitcoin Mining Company - page 30. (Read 104236 times)
What equipment do you use for the minig rigs? Iv asked several times to no avail. I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.
Secret family recipe
.Doesn't... seem too transparent to me :/
We're building rigs for SIN, not for the competition. If you would like the prices of each rig, I'll give that, or the output of each rig, but I don't see how specific components are relevant with that information.
What equipment do you use for the minig rigs? Iv asked several times to no avail. I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.
Secret family recipe
.Doesn't... seem too transparent to me :/
What equipment do you use for the minig rigs? Iv asked several times to no avail. I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.
Secret family recipe
.
What equipment do you use for the minig rigs? Iv asked several times to no avail. I'm aware you can't always get the same cards so I'm mostly insteaded in the other parts and which cards you prefer using.
Thanks for the explanation - I'd say you need to wait until GLBSe is working, including the motion, perfectly until you try and issue motions... clearly it's not worth it to have them up now and then never work :p But in the meantime, you need to make any necessary decisions - that is, move to BTCguild. Worst case scenario, if someone sees a major issue with that (I don't...) we'll move back when motions are working.
Yeah, I won't be issuing any motions until the problem is fixed, and I'll be reissuing the motion concerning our backup pool. However, BTCguild is already decided, so that won't be an issue. The only thing being voted on is the backup server.
Thanks for the explanation - I'd say you need to wait until GLBSe is working, including the motion, perfectly until you try and issue motions... clearly it's not worth it to have them up now and then never work :p But in the meantime, you need to make any necessary decisions - that is, move to BTCguild. Worst case scenario, if someone sees a major issue with that (I don't...) we'll move back when motions are working.
This is what I like about buying in sooner, it increases the percent of the profits you get if you invest earlier on! Buy in now to take advantage of the higher (percent) dividends! =D
Just don't try to shoo away other investors, we need their capital to buy more rigs!
So, Tawsix, do you think you will be doing weekly dividend payments and rig purchases? Or are you not sure what it will be in the long run?
Just don't try to shoo away other investors, we need their capital to buy more rigs!
So, Tawsix, do you think you will be doing weekly dividend payments and rig purchases? Or are you not sure what it will be in the long run?
Yes, we're always trying to get new investors in! I really think that weekly dividends are going to be the norm, that seems to be working out well so far. If things change, so might dividends, but for the foreseeable future, weekly dividends will be issued.
Thanks Tawsix, I think you're handling this really well.
(a picture of the rigs would be nice for current and future investors)
(a picture of the rigs would be nice for current and future investors)
Thank you! I appreciate when people ask questions, it helps me think about different aspects of the company as well as help explain things to people who have not yet invested but are looking into doing so.
Pictures of the rigs is something I'll be getting up in the future, but I can't make any promises on a time frame.
That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it.
And who gets the revenue of the unsold stocks ? I understand that you sold 1645+438 stocks.
Should my share not be 100 out of 1645+438 instead of 100 out of 10.000 ?
Ah yes, my mistake. Those calculations were under the assumption that all shares were purchased, which is not the case. I collect dividends that amount to the number of shares sold (1645) + 1, which I reinvest until the number of shares I own (currently 438) is equal to that number, at which point I would collect dividends as normal until more shares are sold. This would go on until I have paid for all the shares not in the IPO. So in actuality 100 shares would get you 100/3291 (if you already owned them, the denominator would increase by 200 if you went and bought 100 shares right now) of the company, or about 3%.
This is what I like about buying in sooner, it increases the percent of the profits you get if you invest earlier on! Buy in now to take advantage of the higher (percent) dividends! =D
Just don't try to shoo away other investors, we need their capital to buy more rigs!
So, Tawsix, do you think you will be doing weekly dividend payments and rig purchases? Or are you not sure what it will be in the long run?
Thanks Tawsix, I think you're handling this really well.
(a picture of the rigs would be nice for current and future investors)
(a picture of the rigs would be nice for current and future investors)
That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it.
And who gets the revenue of the unsold stocks ? I understand that you sold 1645+438 stocks.
Should my share not be 100 out of 1645+438 instead of 100 out of 10.000 ?
Ah yes, my mistake. Those calculations were under the assumption that all shares were purchased, which is not the case. I collect dividends that amount to the number of shares sold (1645) + 1, which I reinvest until the number of shares I own (currently 438) is equal to that number, at which point I would collect dividends as normal until more shares are sold. This would go on until I have paid for all the shares not in the IPO. So in actuality 100 shares would get you 100/3291 (if you already owned them, the denominator would increase by 200 if you went and bought 100 shares right now) of the company, or about 3%.
That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it.
And who gets the revenue of the unsold stocks ? I understand that you sold 1645+438 stocks.
Should my share not be 100 out of 1645+438 instead of 100 out of 10.000 ?
I understand that next week hashing power of SIN will be 10+ Ghash/s, this is great !
I really like the concept of what you're doing and I bought SIN shares at GLBSE (which has a great new userfriendly webinterface btw).
But I have a question.
There are 10.000 certificates each 0.75 BTC.
When I buy 100 certificates = 75 BTC = US$ 1125.
Will my revenue be 1% of 10 Ghash/s = 100Mhash/s ?
I ask this because in the first posts you said:
I really like the concept of what you're doing and I bought SIN shares at GLBSE (which has a great new userfriendly webinterface btw).
But I have a question.
There are 10.000 certificates each 0.75 BTC.
When I buy 100 certificates = 75 BTC = US$ 1125.
Will my revenue be 1% of 10 Ghash/s = 100Mhash/s ?
I ask this because in the first posts you said:
Quote
Once again, I think it is important to stress that I will be striving to have investments pay for themselves in 4-8 months.
That is correct, you will own 1% of the company, 1% of the company's computing power, and 1% of profits made from it.
I understand that next week hashing power of SIN will be 10+ Ghash/s, this is great !
I really like the concept of what you're doing and I bought SIN shares at GLBSE (which has a great new userfriendly webinterface btw).
But I have a question.
There are 10.000 certificates each 0.75 BTC.
When I buy 100 certificates = 75 BTC = US$ 1125.
Will my revenue be 1% of 10 Ghash/s = 100Mhash/s ?
I ask this because in the first posts you said:
I really like the concept of what you're doing and I bought SIN shares at GLBSE (which has a great new userfriendly webinterface btw).
But I have a question.
There are 10.000 certificates each 0.75 BTC.
When I buy 100 certificates = 75 BTC = US$ 1125.
Will my revenue be 1% of 10 Ghash/s = 100Mhash/s ?
I ask this because in the first posts you said:
Quote
Once again, I think it is important to stress that I will be striving to have investments pay for themselves in 4-8 months.
Could we please have an overview over:
* # of shares to be sold to the public
* Public shares sold
* # of shares reserved for Tawsix
* Shares already paid for by Tawsix (via 50% margin and/or private money)
* Depts of Tawsix to the company (= number of shares not yet paid * 0.75 BTC)
* # of shares to be sold to the public
* Public shares sold
* # of shares reserved for Tawsix
* Shares already paid for by Tawsix (via 50% margin and/or private money)
* Depts of Tawsix to the company (= number of shares not yet paid * 0.75 BTC)
1. Undecided
2. 1645 as of 6/25/11@23:35 EST
3. Undecided
4. 438
5. Undecided
Update: I just withdrew another 64 BTC from GLBSE from investments, so I'll be ordering another rig tonight! It should arrive shortly after the first rig next week, which will bring us up to 11 rigs!
Also, I have an updated share contract that I would like to vote on. The new contract is identical to the old, except it clears up the language so that you aren't "shareholders" in the company but rather partners in the company (I also removed language concerning officers and such, as this is not a corporation). It also deals with the 51%/50% + 1 issue. Here is the
Code:
The holder of this certificate (from here on known as a partner) is a holder of one share of the organisation(named elsewhere in this contract).
That is, the owners of these shares are the owners of the organisation, such that all assets held and profits earned
by the organisation are the property of the partners.
Each share entitles the partner to one vote in motions put forward by the organisation, such that the ownership
of 10 shares entitiles the owner to 10 votes, and so on.
Profits are the income remaining after expenses including operating costs, and research and development of new technologies or services,
and any action that the organisation see's nessecary to take part in.
All profits earned by the organisation will be paid to partners as a dividend, such that these profits will be divided equally among all shares.
Each share entitles the partner to one share of the organisations profits.
The issuer of the shares will reinvest all dividends recieved until such a time that all owned shares are paid for.
In the event of winding up of the organisation and liquidising of it's assets , after the payment of the organisations creditors,
the partners will be paid all remaining liquidity, divided equally among shares, such that one share entitles the partner
to a single share of liquidity.
The decision to wind up the organisation (and therefor liquidate it's assets) requires the approval of at least 50% + 1 of shares in a vote
on the issue in a motion.
A change in the organisations by laws (a link to which can be found elswhere in this contract) requires the approval of at least 50% + 1 of shares
in a vote on the issue in a motion.
Motions can be put forward for voting by 30% or more of shares, and require the vote of 50% + 1 or more ofshares to pass.
No partner is liable for the actions of this organisation. No partner is liable for any debt that this organisation takes on.
The limit of liability of a partner is solely limited to the capital already invested in this organisation when this share was purchased,
and no further.
That is, the owners of these shares are the owners of the organisation, such that all assets held and profits earned
by the organisation are the property of the partners.
Each share entitles the partner to one vote in motions put forward by the organisation, such that the ownership
of 10 shares entitiles the owner to 10 votes, and so on.
Profits are the income remaining after expenses including operating costs, and research and development of new technologies or services,
and any action that the organisation see's nessecary to take part in.
All profits earned by the organisation will be paid to partners as a dividend, such that these profits will be divided equally among all shares.
Each share entitles the partner to one share of the organisations profits.
The issuer of the shares will reinvest all dividends recieved until such a time that all owned shares are paid for.
In the event of winding up of the organisation and liquidising of it's assets , after the payment of the organisations creditors,
the partners will be paid all remaining liquidity, divided equally among shares, such that one share entitles the partner
to a single share of liquidity.
The decision to wind up the organisation (and therefor liquidate it's assets) requires the approval of at least 50% + 1 of shares in a vote
on the issue in a motion.
A change in the organisations by laws (a link to which can be found elswhere in this contract) requires the approval of at least 50% + 1 of shares
in a vote on the issue in a motion.
Motions can be put forward for voting by 30% or more of shares, and require the vote of 50% + 1 or more ofshares to pass.
No partner is liable for the actions of this organisation. No partner is liable for any debt that this organisation takes on.
The limit of liability of a partner is solely limited to the capital already invested in this organisation when this share was purchased,
and no further.
This doesn't change how the company operates, just clears up some legal loose ends.
In other news, the last difficulty increase has made it very clear the switch to BTCguild needs to be soon, at the very least in order to help curb some variance from being on a < 1 Thash/sec pool. That will be the next project until the new rigs arrive.
Voting is still down, so I may end up reissuing the motion concerning our backup pool if it doesn't come back up by tomorrow.
I'm very excited, our computing power will be in the double digits by this time next week!
This is getting really out of hand guys... I have over 8000 shares in my portfolio because only 1600 out of 10000 have sold.
Sorry but in an ipo shares which are not sold are unissued, that means they cannot be used for voting rights etc...
I think we have just found out an issue with this market?
Phil
I think you're right.
Unissued IPO shares definitely shouldn't count in votes.
1 that issues shares and takes care of all the BTC coming in and going out (I'd call it "broker" account)
1 that holds shares that Tawsix (or the company owner if it's another BTC company) uses to actually buy these shares (or to at least transfer them from the "broker account") that are already paid off from his 50%.
The broker account then does not participate in voting.
What I find weird though: How would you, Tawsix, be able to buy 99 shares from the public shares _before_ buying all your "private" shares back?
Could we please have an overview over:
* # of shares to be sold to the public
* Public shares sold
* # of shares reserved for Tawsix
* Shares already paid for by Tawsix (via 50% margin and/or private money)
* Depts of Tawsix to the company (= number of shares not yet paid * 0.75 BTC)
It turns out that that was a lot of noise over nothing: the deal between dishwara and I fell through and he will continue his operation as before.
In other news, all parts for our next rig have shipped, and should arrive on schedule next week! Hopefully we can get some more investors in soon and snag another rig. Soon we'll be migrating from BTCmine to BTCguild and the mining pool that we're currently voting on.
In other news, all parts for our next rig have shipped, and should arrive on schedule next week! Hopefully we can get some more investors in soon and snag another rig. Soon we'll be migrating from BTCmine to BTCguild and the mining pool that we're currently voting on.
This is getting really out of hand guys... I have over 8000 shares in my portfolio because only 1600 out of 10000 have sold.
Sorry but in an ipo shares which are not sold are unissued, that means they cannot be used for voting rights etc...
I think we have just found out an issue with this market?
Phil
I think you're right.
Unissued IPO shares definitely shouldn't count in votes.
The amount of shares DISHWARA receives should be based on the equipment we actually need (and we will take/use) and the hashing power of that equipment.
If we need some equipment for something other than generating hashes, I think Tawsix should purchase it with some generated funds and not IPO shares (perhaps funds from selling said shares though).
If we give DISHWARA X shares, we shouldn't be able to get more hashing capability from (X*.75) BTC worth purchased equipment. And as I said before, the amount of shares should be based on
If we don't need an i5, should we take it? I don't see a problem as long as it either helps us generate hashes OR it isn't tacked on top of the shares we pay for hashing capabilities.
If we need some equipment for something other than generating hashes, I think Tawsix should purchase it with some generated funds and not IPO shares (perhaps funds from selling said shares though).
If we give DISHWARA X shares, we shouldn't be able to get more hashing capability from (X*.75) BTC worth purchased equipment. And as I said before, the amount of shares should be based on
- Hashing Power of Assets
- NOT the Value of Assets
- Equipment Acquired That Helps Generate More Hashes
If we don't need an i5, should we take it? I don't see a problem as long as it either helps us generate hashes OR it isn't tacked on top of the shares we pay for hashing capabilities.
i agree it should be based mainly on hashing power of the assets, 10k seems like too much.
This is getting really out of hand guys... I have over 8000 shares in my portfolio because only 1600 out of 10000 have sold.
Sorry but in an ipo shares which are not sold are unissued, that means they cannot be used for voting rights etc...
I think we have just found out an issue with this market?
Phil
If it became an issue (it hasn't yet) I would take down 99 shares of the IPO so I would then officially have 5100 shares, or 51%. The point is that it hasn't been an issue and probably won't be an issue, which is why this whole discussion is completely moot.
But you understand that we won't be selling 1000 shares / 4 Ghash/sec, right?
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